Casino chips have been around for a long time. Despite taking cash, credit cards, gift vouchers, and even cryptocurrency, casinos still use chips.
What is the purpose of casino chips? This will help you understand why casinos prefer this type of money.
PUSH PEOPLE TO PLAY
Which one would you be most afraid of losing? $100 in cash or $100 in chips? Toss a chip into any casino game while protecting the banknote.
Unlike gambling chips, there is something about cash that makes individuals reluctant to leave with it.
One of the reasons casinos prefer chips over cash is that most customers associate their chips with genuine money. You don’t think of casino chips as money for food, petrol, or other essentials when you own them.
Chips are essentially a form of payment for the majority of gamblers. The goal of casinos is to convert as much cash as possible into chips. People will bet until their chips run out rather than stop before they lose all of their money.
EASY ACCOUNTING
Chips assist the accounting team in keeping track of the cash on hand as money moves around the cages and gambling floor. The shape and size of casino chips make them easy to store. By tracking chip circulation, the casino’s management can properly compute the money flowing in.
GAMES THAT ARE FASTER AND SMOOTHER
Consider a blackjack table where everyone is using paper money instead of chips. Some clients have already placed their wagers, while others are still deciding how much to wager. The next gamer calculating their money may still be going through their wallet and may take 10 to 15 minutes to complete.
Paper money should not be used on a gambling table. It can take a long time just to count the money. Bills are also difficult to track, which causes issues for both the croupier and security.
Because of its size and design, it is convenient for both players and dealers. The colour of the chips assists dealers and customers in determining their value without having to look at the value on the surface. Because of the colour of each chip, even pit leaders and security can readily track the bets put.
PREVENTION OF FRAUD
What’s to stop someone from simply grabbing all of the chips and exiting the casino? Those who are bold enough will need to cash out their chips at the casino. Otherwise, they are worthless casino chips that may only be redeemed for cash at the facility that issued them.
If the thief attempts to cash in the stolen chips, the casino may recognise him or her and refuse payment. RFID can be used by the casino to validate high-value gambling chips. To avoid counterfeiting, casino chips have unique serial numbers etched on them.
Managers can also monitor coin flow on the playing floor with a casino chip tracker. RFID tags can assist security in locating gamers who consistently win at a high rate. RFID gaming chips can also be used to detect or deter staff-client collusion.
HIGH ROLLERS ON THE TRAIL
Casino chip trackers can be used to track down both VIP customers and criminals. On the casino floor, VIPs are huge spenders who are willing to part with a considerable portion of their money when urged. Finding these VIPs enables management to reward their loyalty with bonuses, which encourages gamers to risk more.
BRANDING
When clients think of gaming, marketing departments want them to think of their casino’s brand and emblem. If these people visit Las Vegas, Macau, or Monte Carlo, they will most likely visit the casino they have heard about in advertisements.
Casino chips are extremely effective marketing instruments. Engraving the casino’s name and emblem on the chips strengthens the brand and encourages guests to return or refer friends.
Aside from representing a player’s money, casino chips have a variety of other functions. Chips can help an operator with security, marketing, money management, and other aspects of their business.